Spartan Delta (TSE:SDE) Issues Quarterly Earnings Results

Spartan Delta (TSE:SDE) announced its quarterly earnings data on Tuesday. The company reported C$0.02 earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$181.48 million during the quarter. Spartan Delta had a return on equity of 10.71% and a net margin of 13.77%.

Spartan Delta Trading Down 1.9%

Shares of SDE opened at C$13.06 on Wednesday. The firm’s 50-day moving average price is C$13.49 and its 200-day moving average price is C$12.02. The firm has a market capitalization of C$2.68 billion, a price-to-earnings ratio of 37.31 and a beta of 0.39. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 30.41. Spartan Delta has a 1-year low of C$6.19 and a 1-year high of C$15.13.

Analyst Upgrades and Downgrades

SDE has been the topic of several analyst reports. TD boosted their price objective on shares of Spartan Delta from C$16.00 to C$17.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Desjardins set a C$13.50 target price on Spartan Delta and gave the stock a “hold” rating in a research report on Friday, July 17th. Finally, Royal Bank Of Canada set a C$17.00 price target on Spartan Delta and gave the company a “moderate buy” rating in a research note on Wednesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Spartan Delta presently has an average rating of “Buy” and a consensus price target of C$14.57.

About Spartan Delta

Spartan is committed to creating value for its shareholders, focused on sustainability in both operations and financial performance. The Company’s culture is centered on generating Free Funds Flow through responsible oil and gas exploration and development. The Company has established a portfolio of high-quality production and development opportunities in the Deep Basin and the Duvernay. Spartan will continue to focus on the execution of the Company’s organic drilling program across its portfolio, delivering operational synergies in a respectful and responsible manner in relation to the environment and communities it operates in.